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Abbott Laboratories (ABT) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Abbott Laboratories

CIK: 1800 Ticker: ABT

Exhibit 99.1

 

 

Abbott Reports Double-Digit Sales and Earnings Growth in
Fourth Quarter; Issues Strong Earnings Outlook for 2010

 

 

 

 

 

 

– Worldwide Sales Increased 10.6 Percent

 

– Adjusted EPS Growth of 11.3 Percent (GAAP EPS Growth of 10.1 Percent)

 

– Worldwide Medical Products Sales Increased 23.4 Percent

 

– International Nutritional Sales Increased 11.0 Percent

 

– International Pharmaceutical Sales Increased 22.1 Percent

 

 

 

ABBOTT PARK, Ill., Jan. 27, 2010 — Abbott today announced financial results for the fourth quarter

Financial:

John Thomas

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Larry Peepo

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Tina Ventura

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Media:

Melissa Brotz

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Scott Stoffel

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ended Dec. 31, 2009.

 

·      Diluted earnings per share, excluding specified items, were $1.18, reflecting 11.3 percent growth, at the high end of Abbott’s previous forecast. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.98, up 10.1 percent.

 

·      Worldwide sales increased 10.6 percent to nearly $8.8 billion, including a favorable 2.4 percent effect of exchange rates. Excluding the expected decline in Depakote® sales due to generic competition, worldwide reported sales increased 12.7 percent. Full-year 2009 sales were $30.8 billion.

 

·      Worldwide pharmaceutical sales increased 5.2 percent, including a favorable 2.5 percent effect of exchange rates. Excluding the impact of Depakote, worldwide pharmaceutical sales increased 8.9 percent. International pharmaceutical sales increased 22.1 percent, including a favorable 5.6 percent effect of exchange rates.

 

·      Worldwide medical products sales increased 23.4 percent, including a favorable 3.2 percent effect of exchange rates.

 

·      Worldwide nutritional sales increased 8.8 percent, including a favorable 0.9 percent effect of exchange rates.

 

 

 

·      Abbott is issuing ongoing earnings-per-share guidance for the full-year 2010 of $4.20 to $4.25, excluding specified items. The midpoint of this range reflects growth of approximately 13.5 percent over 2009, including an expected February 2010 close of the Solvay Pharmaceuticals acquisition.

 

 

Abbott’s 2009 results demonstrated the sustainable strength and balance of our broad-based businesses,” said Miles D. White, chairman and chief executive officer, Abbott. “We took decisive long-term strategic actions in 2009 to ensure our strong results continue for years to come. As a result, we’re positioned to deliver another year of top-tier performance in 2010.”

 


The following information was filed by Abbott Laboratories (ABT) on Wednesday, January 27, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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